Bridging and development lender Colenko has strengthened its financial footing with an increased funding line from Shawbrook. This deal, which reflects Shawbrook’s confidence in the firm, aims to accelerate Colenko's growth in the competitive UK housing market.
Founded in 2017, Colenko has carved out a niche as a tech-savvy property lender, specialising in bridging and development loans for property investors and developers. The company’s innovative approach leverages automated valuations and streamlined processes to offer rapid responses and swift payouts, catering to the fast-paced demands of its clients.
Shawbrook initially partnered with Colenko in June 2022, providing a funding line to support its operations. Since then, Colenko’s growth trajectory has been impressive, prompting the need for additional funding to meet rising demand and support its expansion. The £15million deal was completed in just four weeks, a testament to Shawbrook’s ability to deliver fast and flexible financial solutions.
Liam McGall, Associate Director at Shawbrook, commented:
"Colenko has consistently impressed us with its growth and innovation over the past two years. Their focus on technology and exceptional customer relationships sets them apart in a competitive market. We’re delighted to extend our partnership and support them as they continue their impressive growth journey.”
Rob Roscoe, CEO of Colenko, added:
"Shawbrook has been a key partner in our success, and we’re thrilled to deepen our relationship. Their agility and flexibility in completing this deal have been outstanding. This funding will enable us to launch new, innovative products and sustain our upward momentum in the market."
